market data
Alternative proteins in data
Learn more about the alternative protein sector by accessing the most up-to-date data on markets for products made from plants, grown from cells, or obtained through fermentation.
Credit: Upside Foods
01. Investments in Alternative Proteins
In 2024, the global alternative protein sector faced a challenging investment environment, reflecting a slowdown aligned with the trend observed in other climate technology and consumer goods segments. Private companies focused on plant-based meat, dairy, eggs, and seafood raised US$309 million that year, part of the US$1,1 billion invested in the alternative protein ecosystem, which also stems from other technologies such as fermentation and cell culture. Mergers and acquisitions also marked the period, signaling strategic moves towards consolidation and growth.
In Latin America, investments remained modest: US$280 was raised in 2024, totaling US$537 million since 2015. The region accounted for only one reported investment in the year, highlighting the need to expand access to capital and foster a more robust environment to support the sector's growth.
02. Global Alternative Proteins Market
Globally, retail sales of plant-based alternatives—including meat, seafood, milk, yogurt, cheese, and ice cream—totaled approximately US$28,6 billion in 2024, representing a 5% increase compared to 2023, according to data from Euromonitor International. North America and Europe continue to lead in absolute values, but the Asia-Pacific region (including Australasia) also shows significant performance. Latin America remains an emerging market with room for expansion as the product portfolio diversifies and more consumers access plant-based alternatives.
03. Brazilian Market for Alternative Proteins
According to estimates from Euromonitor International, the Brazilian market for plant-based alternatives continues to expand, although at a moderate growth rate compared to previous years. In 2024, retail sales of plant-based meat and seafood substitutes reached R$ 1,13 billion, representing a 14% increase compared to 2023. The volume sold reached approximately 15 tons, an 18% increase over the same period.
In the plant-based milk segment, retail sales totaled R$ 748 million, a 10% increase compared to the previous year. In terms of volume, the market remained stable, with approximately 65 million liters sold in both 2023 and 2024. The diversification of ingredients and the entry of new brands from 2019 onwards continue to be key factors in this growth.
04. Plant-based meat launches in Brazil
Data from the Mintel platform indicates a fluctuating trajectory for plant-based meat launches in Brazil. The high point was... 2021 with 43 releases, marking a peak of innovation and investment in the sector. Starting from 2022, a sharp reduction was observed, with 18 releases that year, followed by 20 on 2023 only 11 on 2024This slowdown may indicate a phase of strategic reassessment by companies, following a period of rapid expansion.
Most products launched in the country belong to the frozen food category, while refrigerated and shelf-stable options still represent a smaller share of the market. In 2024, there was a slight increase in the share of shelf-stable products, indicating a possible trend towards diversification in preservation methods. This demonstrates a strong dependence on the cold chain for the marketing of these products, which may impact their distribution and accessibility to the end consumer.
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